Vision Sensor Market- Insights By Revenue, Upcoming Trends And Worldwide Players Foresights Till 2030

The Vision Sensor Market is expected to grow from US$ 3.28 billion in 2022 to US$ 8.33 billion by 2030; it is estimated to record a CAGR of 12.4% from 2022 to 2030.

Vision sensors are typically used to verify operational effectiveness and maintain product quality. They are also used in code reading, gauging, and localization applications to improve business productivity by streamlining operations. Numerous industries, including automotive, electronics and semiconductors, industrial manufacturing, food and packaging, and pharmaceutical, are using these sensors to detect defects in their production lines. The electrical sector and consumer electronics both use vision sensors to enhance device capabilities such as facial recognition, augmented reality (AR), gesture control, and object recognition. Vision sensors are highly used in smartphones for face unlocks, photo enhancement, and AR filters.

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Analysis of the Top Market Players:

1. Cognex Corporation
2. Teledyne Digital Imaging Inc.
3. Keyence Corporation
4. Sick AG
5. Balluff GmbH
6. Baumer Holding AG
7. Pepperl+Fuchs, ifm electronic gmbh
8. Hans?Turck GmbH & Co. KG
9. Leuze electronic GmbH & Co. KG.

In this report, the market has been segmented on the basis of:

Type
- Less Than 3D And 3D

Application
- Inspection
- Gauging
- Code Reading

Industry Vertical
- Automotive
- Electronics
- Industrial Manufacturing
- Food & Beverages

Growing use of vision sensors in consumer electronics industries is accelerating the market growth. Also, the rising demand for fewer devices to check multiple defects in the production facilities has bolstered the vision sensor market growth. According to IDC Corporate, in August 2023, the smartphone shipment reached 1.15 billion units and is expected to increase at 4.5% year-over-year growth from 2024. Growing adoption of smartphones in the US, Western Europe, China, and India, among others, is expected to drive the vision sensors market in the near future. Further, the global vision sensor market is anticipated to expand during the forecast period owing to growing analytical care and rising need for advanced implementations.

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The high adoption of advanced technologies such as AI, IoT, ML, IIoT, and 5G drives the adoption rate of vision sensors in APAC. Increasing government investment and support for expanding automotive, electronics, industrial manufacturing, food and beverages, and other industries creates regional opportunities. For instance, according to Invest India, during April-September 2023, electronic goods exports in India reached US$ 13.11 billion compared to US$ 10.27 billion in April-September 2022, registering a growth of 27.62%. India's electronic goods export is projected to reach US$ 120 billion by FY 2026, which increases the demand for vision sensors among electronics manufacturers. Moreover, the evolution of Industry 4.0 and industrial automation are anticipated to generate significant opportunities for market growth during the forecast period in the region.

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